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FY2025
12 months to Dec 31, 2025
|
|
|---|---|
| Cash flows from operating activities: | |
| Net (loss) income | |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |
| Gain on reversal of legal accrual | |
| Equity-based compensation | |
| Depreciation and amortization | |
| Non-cash lease expense | |
| Provision for credit losses on accounts receivable | |
| Amortization of discount on held-to-maturity debt securities | |
| Deferred income tax | |
| Reserves on loans and notes receivable from related parties | |
| Related Party | |
| Total reserves on loans and notes receivable from related parties | |
| Net loss from equity restructuring | |
| Other, net | |
| Changes in operating assets and liabilities: | |
| Accounts receivable | |
| Prepaid expenses and other current assets | |
| Other assets | |
| Accounts payable and other accrued expenses | |
| Accrued payroll and benefits | |
| Deferred revenue | |
| Other current liabilities | |
| Operating lease liabilities | |
| Other liabilities | |
| Net cash provided by operating activities | |
| Cash flows from investing activities: | |
| Purchases of held-to-maturity debt securities | |
| Proceeds from maturity of held-to-maturity debt securities | |
| Issuance of loans and notes receivable from related parties | |
| Proceeds from loans and notes receivable from related parties | |
| Payments for purchases of property and equipment | |
| Payments for capitalized internal-use software costs | |
| Net cash provided by (used in) investing activities | |
| Cash flows from financing activities: | |
| Proceeds from IPO, net of underwriting discounts and commissions | |
| Payments of deferred offering costs | |
| Proceeds from issuance of Class B common stock | |
| Deferred consideration payments for business combination | |
| Principal payments under finance lease obligations | |
| Distributions paid | |
| Net cash used in financing activities | |
| Net change in cash and cash equivalents | |
| Cash and cash equivalents at beginning of period | |
| Cash and cash equivalents at end of period | |
| Supplemental disclosures | |
| Interest paid | |
| Income taxes paid | |
| Non-cash investing and financing transactions | |
| Property and equipment acquired through finance leases | |
| Right-of-use assets obtained in exchange for lease liabilities | |
| Right-of-use asset and lease liability adjustments due to remeasurement | |
| Purchases of property and equipment included in accounts payable and other accrued expenses | |
| Unpaid deferred offering costs included in accounts payable and other accrued expenses | |
| Reclassification of deferred offering costs paid in prior year to additional paid-in-capital upon IPO | |
| Distributions payable | |
| Issuance of notes payable to related parties | |
| Settlement of deferred compensation liability with LTIP Unit issuance |
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